COSCO Pacific is reported to be eyeing a stake in the proposed third phase of Shanghai's deepwater port of Yangshan, according to Xinhua News Agency.
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hp 2140 mininotepc batteryCosco already holds a 10 per cent interest in the newly-built phase two facility and plans to invest further to raise its stake at the port of Yangshan, according to comments made by vice chairman and managing director of Cosco Pacific, Sun Jiakang, which were cited in the report.
The news wire said that construction of phase three has not yet started and the facility is still at the planning stage. Authorities in Shanghai have not even confirmed details of the bidding process to potential investors.
So far a number of international companies, including French shipping line CMA CGM and Hong Kong's Modern Terminals, are reported to have expressed an interest in the phase three project.
Phase three is designed to accommodate seven berths that will each be able to accommodate vessels ranging in capacity from 70,000 to 150,000 tons and will be designed to be able to handle five million TEU per year once it goes into operation.
Xinhua added that Cosco along with Hutchison Whampoa, Maersk, Shanghai International Port Group, and China Shipping each won a stake in second phase of Yangshan port, which is equipped with four berths.
